Housing affordability rate droos.Canada's housing affordability mildly deteriorated in the fourth quarter of 2005 due to relatively weak growth in household income, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the latest Housing Affordability Index released by RBC RBC red blood cell. RBC or rbc abbr. red blood cell RBC, n See red blood cell count. RBC red blood cells; red blood (cell) count (see blood count). Economics. "The erosion in Canada's housing affordability was largely attributed to slower growth in household income compared to the rest of the year. This was unable to offset increases in mortgage rates, house prices and utilities costs," said Derek Holt, assistant chief economist The Chief Economist is a single position job class having primary responsibility for the development, coordination, and production of economic and financial analysis. It is distinguished from the other economist positions by the broader scope of responsibility encompassing the , RBC. The RBC Affordability Index measures the proportion of pre-tax household income needed to service the costs of owning a home. Affordability has deteriorated, but RBC notes that the pace of price appreciation has cooled in most parts of the country for almost all types of housing over the past year with the exception of British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography , Alberta, and Manitoba, which continue to experience double-digit annual price gains. |
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